04/30/2022
FCA launches consultation on Russia side pockets
Closes 16 May 2022
Legal, Regulation & Compliance
04/29/2022
Protecting investors in authorised funds following the Russian invasion of Ukraine
We are consulting on rules which will allow Authorised Fund Managers to create separate unit classes (side pockets) for retail investment funds affected by the invasion of Ukraine.
04/29/2022
UK’s digital watchdogs take a closer look at algorithms
Every day, we access services that process data using a wide variety of automated systems.
04/29/2022
Sanctions licensing in the United Kingdom Overseas Territories
The only exception to the prohibition on the asset freeze and to allow a Territory person to deal with the frozen funds or economic recourses would be to apply to the competent authority of the United Kingdom Overseas Territories for a financial sanctions
04/29/2022
Russian sanctions: the impact of UK, EU and US sanctions for UK and EU businesses
In addition, formal guidance from the regulatory authorities on the meaning and practical application of the sanctions is either not issued, is not comprehensive or is issued weeks after the law came into force.
04/29/2022
Financial Regulation: Daily Update
The Competition and Markets Authority (CMA) has published its Annual Concurrency Report.
04/29/2022
Fund Liquidity – An Overview of Key Guidance Issued
In this update we provide an overview of this and other guidance and proposals issued on this topic as highlighted in the timelines on the right-hand side of these pages.
04/28/2022
The ECB & Trade Flows: The Road to Hell is Paved With Good Intentions
With that goal in mind, in the ever-complex area of counterparty credit risk exposure modeling, both BIS and local regulators have in recent years published reports and run programs with consistency as the main focus.
04/28/2022
Morningstar acquisition of Praemium International greenlit
FCA and Jersey regulator give deal their respective nods of approval
04/28/2022
Regulators call for action in open finance
Financial Conducts Authority payments policy manager Helen Oger-Zaher and Open Banking Implementation Entity head of policy Alan Ainsworth joined the stage to represent the regulators
04/28/2022
Bank of England ramps up focus on operational resilience
This latest suite of proposals explores some of the same concepts from those papers in the specific context of outsourcing arrangements and FMIs’ engagement of other third parties.”
04/28/2022
The PRA’s statement on the ‘Review of Solvency II’ consultation published by HM Treasury
This statement provides an update from the PRA, coinciding with the consultation published by HM Treasury on the Solvency II Review.
04/28/2022
New Russian law to put 'unfriendly' assets at risk of seizure
The new draft law does not define ‘unfriendly measures', but Pinsent Masons said it would likely be applied to the list of ‘unfriendly' states defined in a 5 March 2022 decree.
04/28/2022
Central Bank warns banks to do more to help customers move accounts
Regulator summons bank chiefs to meeting over KBC and Ulster Bank account transfers
04/28/2022
Addleshaw Goddard Financial Services & Banking News
Given the need to manage these risks, the government intends to provide the Bank of England (BoE) with powers to oversee the wholesale cash distribution system
04/28/2022
Operational Resilience: Next steps on the PRA’s Supervisory roadmap − speech by David Bailey
David Bailey talks about the work we do with UK banks and building societies to strengthen their resilience to any disruptions to their operations.
04/27/2022
Anti-money laundering startup First AML opens UK doors to rush of inbound business enquiries
First AML automates the highly manual Anti-Money Laundering (AML) Customer Due Diligence/Know Your Customer (CDD/KYC) process.
04/27/2022
Are you affected by the UK National Security and Investment Act?
Once completed, the checker will send you a brief report summarising the results and offer you a complimentary follow up call with Mishcon de Reya or Taylor Vinters to discuss any next steps required.
04/27/2022
Herbert Smith Freehills: Financial Regulation: Daily Update
The FCA has confirmed that, following the conclusion of a successful pilot, it will expand its Early and High Growth Oversight approach to provide 'closer support' for newly authorised businesses by the end of 2023.
04/27/2022
Critical issues in financial regulation: The FCA's perspective
To be more rigorous on firms seeking approval to operate in our markets, to tailor our rules to better suit our global markets and play a leadership role in supporting the market-led transition to a more sustainable economy.